HomeMy WebLinkAboutResolution - 2260 RESOLUTION NO. 2260
A RESOLUTION OF THE CITY OF SAN JACINTO, CALIFORNIA
AUTHORIZING THE EXECUTION AND DELIVERY
OF A LEASE WITH OPTION TO PURCHASE AND
AUTHORIZING CERTAIN ACTIONS IN CONNECTION THEREWITH
WHEREAS,the City of San Jacinto is a city organized and existing under and
pursuant to the Constitution and laws of the State of California; and
WHEREAS,the City desires to provide for financing in the approximate amount
of S136,700.00 for the acquisition of miscellaneous equipment;and
WHEREAS, Municipal Finance Corporation has proposed a cost-effective lease
purchase financing arrangement at a 5.88% interest rate;
NOW, THEREFORE,BE IT RESOLVED by the City Council as follows:
SECTION 1. Lease with Option to Purchase. The Mayor is hereby authorized
to enter into a Lease with Option to Purchase with Municipal Finance Corporation to
finance equipment, subject to approval as to form by the City Attorney.
SECTION 2. Attestations. The City Clerk is hereby authorized and directed to
attest the signature of the Mayor and to affix and attest the seal of the City as may be
required or appropriate in connection with the execution and delivery of the Lease.
SECTION 3. Other Actions. The Mayor, City Manager and other officers of
the City are hereby authorized and directed,jointly and severally, to take any and all
actions and to execute and deliver any and all agreements, documents and certificates
which they may deem necessary or advisable in order to carry out, give effect to and
comply with terms of this Resolution and the Lease. Such actions are hereby ratified,
confmxd and approved.
SECTION 4. Effect. This Resolution shall take effect immediately upon its
passage.
APPROVED AND ADOPTED this Yd day of August, 2000, by the following vote:
AYES:
NOES:
ABSTAIN:
ABSENT:
Mayor
ATTEST:
/ityClerk aAtr